As you are most likely aware, Amendment 70: Raise Colorado’s Minimum Wage was on this year’s ballot. With over 55% of voters in favor of the raise, the increase will go into effect January 1st, 2017.
Please know as a client of TLC you will be provided a Federal and State labor law poster within the first 60 days of 2017. The labor law posters you receive from us will reflect this information.
Amendment 70 has set up the minimum wage for the next four years, as you can see here:
||Tipped Minimum Wage
($3.02 less of standard min. wage)
|January 1, 2017||$9.30||$6.28|
|January 1, 2018||$10.20||$7.18|
|January 1, 2019||$11.10||$8.08|
|January 1, 2020||$12.00||$8.98|
Starting 2021 the minimum wage is adjusted annually for increases in the Colorado consumer price index (CPI). The CPI is a common measure for changes in the prices of goods & services, such as food, housing, gasoline, and medical care. Unique to the standard CPI method, Amendment 70 prevents a decrease in the minimum wage if the cost of living falls.